Gold, de-dollarization, global economy

[Peter90]

[0t3p0t]

I was surprised with Guyana's percentage growth and of course it's huge deposit of oil reserves. Lucky for them they are rich in natural resources that might push it's economy up. I just don't know when will be fossil fuels become obsolete because of renewable energy.

[Peter90]

I was surprised with Guyana's percentage growth and of course it's huge deposit of oil reserves. Lucky for them they are rich in natural resources that might push it's economy up.

So many countries rich in natural resources... but still underdeveloped with poor population...
Unfortunately having natural resources is no guarantee for economic improvement...




Today's graphic is about China's increasing funds lending role
"China has provided developing countries with over $1 trillion in committed funding through its Belt and Road Initiative (BRI), a massive economic development project aimed at enhancing trade between China and countries across Asia, Africa, and Europe."

[Legion]

I was surprised with Guyana's percentage growth and of course it's huge deposit of oil reserves. Lucky for them they are rich in natural resources that might push it's economy up. I just don't know when will be fossil fuels become obsolete because of renewable energy.

When oil is discovered it will make them gain enormous wealth, they will probably be like the people of Arabia, they used to be poor people with extraordinary droughts, but for now they have become a very rich country and everything can be bought easily. Hopefully Guyana's prosperity will increase and have a good impact on the surrounding countries.

[Peter90]

[DrBeer]

The BRICS countries account for 26% of the Earth's territory, 42% of the world's population (2.83 billion people), 27% of the world's GDP (gross national product reaches 18% of the world's national product) and 15% of world trade.

And everything looks beautiful, if only for one nuance..... Noticeably more than 50% of all figures are provided by CHINA.  China, which has an EXPORT ORIENTED economy. China, which is now actively losing its western market and which critically needs .... yes, yes, to replace the markets that are "slipping out of their hands", which are becoming the BRICS members. Nothing personal - purely Chinese business

I would like to say separately about Saudi Arabia and UAE. They were counted on (by the BRICS ideologists) as a "joker up their sleeve" that would allow manipulating the oil market "on behalf of the BRICS". But.... these 2 countries form the prices for the key product of their economy 90+% in ...dollars, and they will not change this concept. They sell small amounts of oil for yuan, and only within the framework of bilateral projects, which are very few in these countries.

[emmybd]

De-dollarization is happening much faster than many people expected. China, Russia, Iran and many other countries have been using other currency such as Chinese Yuan for their business. Because of political differences with the United States many countries have opted for Chinese Yuan. Another reason is the growing Chinese economic cloud.

[Peter90]

[DrBeer]

Perhaps that's what the picture looks like in dry statistics. But there are, as always, small nuances:
1. Everyone remembers the saying "There are three kinds of lies: lies, blatant lies and statistics. The modern world has adapted it to the reality, and it sounds like this: "There are four kinds of lies: lies, brazen lies, statistics and Chinese statistics"
2. Russia's GDP is the most fake number in these statistics. The reason is trivial - the war economy. On the one hand everything is fair - gdp is big. BUT ! It is the GDP of the military economy, where more than 40% of the budget goes to destruction and annihilation. In a day/week/month, 40% of the produced domestic product becomes shrapnel, smoke, burnt tanks, or dead servicemen of the Russian Federation.
3. g7 - An informal international club of seven economically most developed countries.  And compare the composition of the BRICS . I do not want to offend BRICS, but it looks like a bunch of losers gathered around China and India, in the dubious hope that they will gold them...
4. and if we talk about statistics - let's look at the GDP of countries not only belonging to this or that organization, but also their partners ?
https://data.oecd.org/gdp/gross-domestic-product-gdp.htm#:~:text=Gross%20domestic%20product%20(GDP)%20is,and%20services%20(less%20imports).

I understand that you like BRICS, but you have to be realistic - it is not an alliance of creation, development and mutually beneficial relations. It has a completely different goal, which I have already mentioned many times.  And there are no friendly relations in BRICS, this is a fact that cannot be denied.....

And the final, the simplest question - how many BRICS countries (except for the pariah countries), were able to give up interaction with the Western civilized market for a full cycle of interaction within the "great BRICS" ?
But the countries of the developed west easily refuse the products of China, Russia, Iran and the like....

[Peter90]

[DrBeer]

....

Beautiful charts, everything is fine, and well visualized. It is nice to see the work of good analysts who know how to handle data.
Only it is necessary to write before the chart - "* - data on gold reserves are not verified. The statistics is based on official statements. Audit of reserves has never been conducted".
Otherwise someone might think that these are real gold reserves

Peter90 don't take this as an attempt to take your posts as a joke, but we have to be objective in providing information ! If it is not proven and confirmed - we must write about it, otherwise it can be perceived as an attempt to manipulate.